• Qatar Investment Authority (QIA) will invest $500 million in Ivanhoe Mines.

• The investment gives QIA approximately a 4% stake in Ivanhoe.

• Ivanhoe will use the funds to advance its "essential minerals" projects, including the Kamoa-Kakula copper mine.

On September 17, Ivanhoe Mines revealed the QIA's $500 million investment. The Canadian company, a co-owner of the Kamoa-Kakula copper mine in the DRC, will issue 57.5 million common shares in exchange, granting QIA approximately 4% of its capital.

This agreement constitutes part of a private placement, awaiting approval from Canada's TSX exchange, where Ivanhoe is listed. CITIC Metal Africa Investments Limited and Zijin Mining Group, Ivanhoe's two largest shareholders, retain the right to acquire Ivanhoe shares at the same price as QIA. This option allows them to maintain their respective stakes in the company. Ivanhoe stated its intention to deploy the Qatari investment to further its operations, specifically focusing on exploration and the extraction of essential minerals.

Mohammed Saif Al-Sowaidi, CEO of QIA, said the agreement underscores the fund’s confidence in Ivanhoe Mines—not only in the strength of its world-class asset portfolio, but also in its ability to sustainably discover, develop and deliver the critical minerals needed for the global energy transition and advanced technological industries.

Beyond Kamoa-Kakula, the DRC's largest copper mine and a contender for the world's second-largest, Ivanhoe manages the Platreef platinum group metals project in South Africa. The company also operates the Kipushi zinc mine in the DRC. Ivanhoe has recently encountered operational challenges, including a slower-than-anticipated ramp-up at Kipushi and a seismic incident at Kamoa-Kakula. The latter event prompted the company to revise down its production forecasts for 2025.

This article was initially published in French by Emiliano Tossou

Adapted in English by Ange Jason Quenum